Not to anyone's surprise a massive risk aversion move started on Monday. The move had been brewing for the previous week with only a matter of time until capitulation. Volatility has been at an extreme for the past few days in the forex market as market participants have been flying to safety.
The moving trades have been, long yen(JPY), against anything, and long Swiss franc(CHF) against anything. Usually these risk aversion swings include dollar buying, but this time that seems absent. The US Dollar seems to be continuing to lose ground against everything. This supports the idea that the world intends on avoiding the USD if they can.
This is a serious time on the forex trading market, if you are not experienced at dealing with volatile forex trading, it's a good idea to sit out. It's very tempting to jump in and grab some money, but these markets are going to be extremely unpredictable, if you must trade them use your stops wisely and know when to walk away from a trade.